UBS Group AG is a multinational investment bank and financial services company founded and based in Switzerland. The company originated in 1862 but it was in 1998 that UBS was founded, originating from the merger of Union Bank of Switzerland and the Swiss Bank Corporation. Co-headquartered in the cities of Zürich and Basel, it maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world, with USD 1.12 trillion in assets.